Interest on delayed payment of expenditure-tax.

14. Every person responsible for collecting expenditure-tax and paying it to the credit of the Central Government in accordance with the provisions of section 7, who fails to credit the tax to the account of the Central Government within the period specified in that section, shall pay simple interest at the rate of one and ³⁴[one-fourth] per cent for every month or part of a month by which such crediting of tax is delayed.